AutoMart China launches combined club/credit card
In China, AutoMart and the Bank of China are to jointly issue a bank united name card - a combination club membership card and credit card, giving cardholders preferential treatment at AutoMart repair centres, and providing a line of credit.
While debit cards are common in China, credit cards are much less common. By making credit cards available to its customers with the backing of Bank of China, AutoMart hopes to provide a much-needed funding mechanism for its customers to more regularly inspect and repair their cars. According to AutoMart, lack of personal funds has historically been the key reason for consumers resisting vehicle repairs and pre-emptive maintenance.
Co-marketing The project is a major element of AutoMart's current marketing strategy, as the Beijing Branch of the Bank of China has a customer base of some 1.4 million consumers, each of whom fits the demographic and target market for AutoMart's services. The co-branded credit card, issued by the Bank of China and marketed to its customers, will feature AutoMart's name and logo.
The implementation is being facilitated with business builder Deep Field Technologies, which is involved in the acquisition and build-out of technology and software companies, and presently sells unified messaging systems, which store all messages in one location for access, typically a groupware database with one single list of users for e-mail, voice, telephones and computers.
AutoMart has thirty auto repair centres in Beijing, six of which are large centres. The company expects to have sixty centres in Beijing by the end of Q1 2006.